Oshi Health, a virtual gastrointestinal (GI) center of excellence, announced today that it raised $60 million in Series C funding led by Oak HC/FT with participation from existing investors Bessemer Venture Partners, Flare Capital Partners, Frist Cressey Ventures, CVS Health Ventures, and Takeda Digital Ventures.
Oshi Health is now available in all 50 states to over 40 million people as an in-network virtual GI clinic and has a growing roster of in-person GI practice partners across the country. And the company’s whole-person care model is helping patients reach lasting symptom control faster and at a lower total cost of care. Plus, Oshi has partnered with innovative benefit leaders from employers such as Dayforce, Koch, Mariner, Nielsen Company, and TE Connectivity to drive awareness and impact within their populations, with dozens more employer programs launching by the end of the year.
This new funding round will help extend the company’s market leadership and momentum by adding partnerships with more provider groups, growing payer coverage, servicing new employer partners, and expanding into Medicare populations starting in 2025.
Gastrointestinal care is a major need as many people live with a diagnosed GI condition. And in traditional GI care, patients lack support between visits and are left on their own to decipher complicated symptoms and coordinate their own care. Unmanaged digestive symptoms are the biggest cause of emergency department treat-and-release visits. And escalating costs have made it a top four cost driver for employers and payers alike.
Since its clinical approach and unique ability to diagnose, prescribe, treat, and coordinate care, Oshi Health can intercept and change the trajectory of unmanaged symptom escalations and drive the most significant outcomes and cost savings in the industry. And Oshi surrounds patients with a dedicated multidisciplinary care team – including advanced practice providers, registered dietitians, behavioral health specialists, and care coordinators, overseen by board-certified gastroenterologists.
This care team works in collaboration with each other and in partnership with local gastroenterologists and primary care providers who are not structured or reimbursed to provide the time and high-touch care that Oshi delivers. And Oshi patients can access unlimited virtual visits and messaging support with their care team until they understand their symptom triggers and gain the knowledge, tools, and optimal treatment plan to control their symptoms.
The company also revealed that a clinical trial demonstrated that Oshi’s care resulted in total medical cost savings of $10,292 per patient in six months, driven by decreased avoidable testing, procedures, ER visits, and medication utilization.
KEY QUOTES:
“Digestive health is an urgent and under-resourced category, and Oshi stands out for its unique ability to provide proven clinical care that delivers faster relief for patients and significant savings for employers and health plans. We are thrilled to support a team that is transforming value-based models within the virtual health space.”
-Nancy Brown, General Partner at Oak HC/FT
“Digestive health issues are a crippling reality for millions of Americans and a financial burden for their employers and health plans. We have proven the transformative ability of our model to fill the gaps in care and create value for everyone involved, and we are excited to have the support of healthcare’s leading investors as we scale to free millions of people from their suffering.”
-Sam Holliday, Oshi CEO
“Digestive health issues are a growing cost in our health plan and there is a shortage of high-quality, convenient digestive care in the marketplace. Oshi’s unique virtual model supports our employees and their families with the time and expertise needed to deliver truly transformative digestive care on their own terms. I’m excited about the partnership between Koch and Oshi and the potential to make a meaningful difference in the lives of our employees.”
-Matthew Hall, Benefits Strategy Manager at Koch, which relies on Oshi to provide virtual digestive care to its employees
